PSBank OFW Loan – review 2026
Pros
- Backed by the Metrobank Group, one of the Philippines' largest banking groups
- Accepts POEA contracts and remittance records in place of local payslips
- Beneficiary or attorney-in-fact can complete the application domestically
- Monthly add-on rate starting from a competitive 1.39%
Cons
- Minimum loan amount of PHP 20,000
- Rate can rise above the 1.39% starting point depending on borrower assessment
- Fewer branches than BDO or BPI, though the network still spans most major cities
PSBank, a subsidiary of the Metrobank Group, offers OFW personal loans from PHP 20,000 to PHP 500,000 at monthly add-on rates starting from 1.39%, accepting POEA-processed contracts and remittance records as income documentation. The bank allows a beneficiary or attorney-in-fact to process the application domestically on the OFW's behalf, which is useful for borrowers who cannot return to the Philippines during the loan process.
Who it suits
OFWs who want the backing of an established, Metrobank-affiliated thrift bank and have a trusted representative available in the Philippines are well matched to this product. Its PHP 500,000 ceiling sits between the smaller OWWA facility and the larger Land Bank program, making it a middle-ground option by loan size.
Applying and repayment
A beneficiary or authorized attorney-in-fact submits the application at a PSBank branch, providing the OFW's POEA contract, remittance records and identification. Once approved, funds are credited to a PSBank account, with repayment collected through fixed monthly installments.
Requirements
- Active OFW status with a valid, POEA-processed employment contract
- Filipino citizen, generally 21 to 65 years old at loan maturity
- Beneficiary or duly authorized attorney-in-fact based in the Philippines
- Remittance records or other proof of overseas income
- Valid government-issued ID for both the OFW and the authorized representative
Provider contacts
- Name
- Philippine Savings Bank (PSBank)
- Address
- PSBank Center, 777 Paseo de Roxas corner Sedeño Street, Makati City, Philippines
- Reg. number
- BSP Thrift Bank License
- Website
- https://www.psbank.com.ph
- Online application
- Apply now →
- Regulator
- Bangko Sentral ng Pilipinas (BSP)
Information in this review is based on publicly available sources and is for informational purposes only. Finatino.com is not a financial product broker. Before signing any contract, we recommend reading the provider's terms and conditions.